Paul Anthony Ruggieri, accountant, pleaded guilty Friday to assisting in the tax fraud scheme of Anthony Andreozzi, the owner of two Florida-based adult entertainment businesses.
1. Based on the information in the article, how long had Mr. Ruggieri been Andreozzi’s accountant? Go to the Certified Fraud Examiner’s website and compare this amount of time to the average number of months for most fraud. Is it more or less? Discuss.
2. What was the fraud that Ruggieri committed?
3. How much income did Ruggieri hide and was Ruggieri the only one charged in this case?
4. What is Ruggieri’s potential sentence?
5. What makes this type of business susceptible to fraud?
Lincoff, S. (2015). Former accountant pleads guilty to cooking the books for adult entertainment businesses. South Florida Business Journal, Feb. 17 (Retrievable online at http://www.bizjournals.com/southflorida/news/2015/02/17/former-accountant-pleads-guilty-to-cooking-books.html)